This extended clip makes the whole thing look a lot like Crytek's last engine (the one Crysis ran on), doesn't it? That's because, superficially, it's very similar. Remember, this is an engine that can now run across PC, 360 and PS3, not just the PC, so it's not going to be some quantum leap beyond Crysis-type visuals.

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That said, it is scalable. So in the years to come, Crytek (or anyone licensing the engine) can just crank up the settings and increase the texture count, density of objects, etc etc to make it look all next next gen.

UPDATE - Seems some of the above pictures (9, 11 & 13) are from existing, fan-created mods, built using the older CryENGINE 2. Interesting. For the record, all pictures above were taken from Crytek's CryENGINE 3 press kit. We'll look into it.